“Need” and “required” are two separate matters. While a home office may not be required to be insured, it’s a massive benefit to you and your business to have insurance designed to protect your assets and liability. A home office may make use of a dozen different business assets, from laptops to inventory and more. Business items or items utilized for business activities may not be covered by your standard home insurance so, to be protected, must be insured through either a home-based endorsement or a separate commercial policy – a home office insurance plan.
Your liability also needs protecting with a home office. If you have clients come to visit you and converse at the space of your home office, you need to protect yourself with the appropriate liability coverage. If you are a medical professional, consultant, or advisor, or someone who primarily deals in the offering of services or advice in exchange for money, then you may need professional liability insurance – even if you work out of a home office.